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FOX Business
Jan 8, 2013 5:00pm EST
to be badly wrong. that is just part of the business but we shouldn't flirt with the debt ceiling at all. to run up against the debt ceiling is to effectively send a default signal to the rest of the world. there is lot of talk you could pay some bills and not others but in effect you could pay interest and social security and things like that, but you couldn't pay the troops. you couldn't pay for roads, bridges, basic research, education. simply nothing to flirt with. you would either scare the international community to death or deprive people of basic services. we should have an agreement. that we shouldn't do anything but raise the debt ceiling. we should have an agreement we should fix the spending problem. what we don't have agreement is how. they ought to get start on that right away. melissa: speaking how to do that, evan, you're someone in the trenches so many times and got frustrated with the process. what do you think of what's going on right now? >> i don't think much about it, melissa. shows the deep political dysfunction we have at the heart of congress right now or at the
FOX Business
Jan 10, 2013 6:00pm EST
the authority to raise the debt ceiling without congress? will he tried to? our handwriting expert is digitalis about the most talked-about signature. will it end up on our dollar bill? can you read that? >> from that fox business studios in new york city, it's "the willis report" with gerri willis ♪ gerri: as the debt ceiling showdown, members of the financial services round table now headed by former gop presidential candidate temple in tay are urging congress to raise the debt ceiling. failure to do so will cause a wire. will republicans caved? always great to have you on this show. what do you make of this? these and other business leaders of this country who are saying, you have to raise that debt ceiling. >> a little hypocritical. these business leaders of the same ones to say we have to do something about our enormous debt, and what will cause a wire to our nation's finances continuing to go around borrowing a trillion dollars year after year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents
FOX News
Jan 12, 2013 10:00pm PST
raising the debt ceiling. the u.s. already reached its borrowing limit and could begin defaulting on government loans by late february or early march. i'm marianne rafferty. now, back to "geraldo at large." for all your latest headlines log on to fox news .com. braps decided by a judge who will listen to the evidence beginning on the 13th day of february. and he will make that decisiond based upon all of the evidenc that is being presented. >> give be the fact that the two alleged perpetrators the principal people involved werel members of the exhalted football team is isn't it fair to say that the case has been handled differently than if, say, they were members of the chess squad? >> i really don't think so. i know that allegation has been made but i have seen nothing is the investigation that we would have s handled this any differently. it would not have been any different no matter who it was. >> granted you still have someo interviews to conduct but it sounds from the tone that you have concluded there are two people perpetrators involveder and only two? >> in regard to >> i
Jan 5, 2013 11:00pm PST
the federal debt ceiling. in his weekly address, he said he will not compromise on the issues. >> if congress refuses to give the united states the ability to pay its bills online interesting consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> the nation's credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling in 2011. >>> a whale of a price for a high quality tuna. a bluefin tuna was sold for the egive lenl of $1.7 million in auction in tokyo. the major of the sushi chain was the buyer. he said although the fish was of the highest quality and color, he was surprised at that high purchase price. the fish has already been shipped to the sushi chain where a few lucky customers got a taste. no word on whether it was worth the price. >> strong swimmers proved today that it is possible to escape from alcatraz. today was the sixth annual alcatraz winter swim. people of all ages braved
Jan 9, 2013 12:00pm EST
the debt ceiling. it is its responsibility. congress has to pay the bills of the united states. that is an obligation that they assigned to themselves. >> a little evasive in your answer. are you trying to leave room or not -- >> there is no substitute for congress extending the borrowing authority of the united states. >> is there an option -- >> i think the only option is there is no backup plan. the only option is for congress to do its job. >> [inaudible] [laughter] >> i speculate about a lot of things, the but nothing needs to come to these kinds of, you know, speculative notions about how to deal with a problem that is easily resolved by congress doing its job. very simply coming back and having the discussion and conversation and negotiation and debate about how we can continue to bring down the debt in a way that is responsible and allows the economy to grow and protect the middle class to continue the 54 months of job creation that we have had during this recovery. that's the conversation and the debate and negotiation that is correct to have. that's the conversation a
FOX Business
Jan 7, 2013 7:00pm EST
term, or run up against a debt ceiling in and get a credit rating but not cut spending. in the and you have to pass bills that reform the entitlement programs. there is no substitute. lou: when i said just let it unfold, what i meant was sequestration, do as you well. i personally think the republicans signed up for an idiotic sequestration. they allowed the federal -- the defense budget to take up 50% instead of the 20% that it represents and the federal budget so it has a disproportionate burden on already. that was completely in ignoramus who came up without one. the second part of the steel, they go around preaching about where or to have to do, this, that, cut. just let it go. just let it go and see what happens. because americans don't really get it. all the republicans look like a bunch of stodgy orthodox camino, members of an orthodoxy here just simply cannot resist saying no. if that's your idea, mr. president, it's your deal. let it rip. >> well, i mean, if it were not for the consequences of letting this administration and the autopilot that we are on for spending representa
Jan 13, 2013 7:00am EST
to a really economic crash. i am for raising the debt ceiling. i believe that we need to pay our bills. i have to pay my bills. if i do not pay my credit card bills, my credit rating goes down. my credit score goes down. and i pay more in interest in the future. i think it is very irresponsible of these tea party republicans to hold the country hostage. there are other issues that can be negotiated for spending and raising revenues and the debt ceiling should not be a part of it. host: ok, thank you for calling. here is the editorial cartoonist of the post. the idea of minting a single coin valued at $1 trillion. using that to increase the debt limit. a number of stories saying that basically, this is not going to happen. his is what is reclined -- this -- what ezra kline writes he points out that they will not mince a trillion dollar coin. if it did, the federal reserve would not accept it. at is in important point. the inclusion of the federal reserve is significant. the platinum coin idea to work, the fed would have to retreat it as a way to create currency. next call is bob from idaho, ind
FOX News
Jan 12, 2013 4:00pm PST
with congress over raising the debt ceiling. the u.s. has reached borrowing limit it did so last week by late february or early march. the treasury department will run out of ways to cover its debt and could begin defaulting. the pentagon looking at a request from france for drone support. france wants the assistance as its military takes on al qaeda linked terrorists terrorists in. french troops drive back rebels take back control of big chunk of west african nation. turning now to the civil war raging in syria. international efforts to hold the syrian government responsible for war crimes now. more than 50 nations backing a plane conflict to the international criminal court. this as rebel forces and syrian troops battle for control of key territory outside of syria's capital damascus. the u.n. estimating now 60,000 people have conor powell has the latest russia announcing today it continues to support u.n. backed peace efforts but also undermining those efforts by saying that the removal of president assad from power cannot be a precondition to talks. this comes as rebels have taken control
Jan 7, 2013 7:00am EST
the debt ceiling? it sounds logical. the debt ceiling is about spending that has already occurred. stop buying stuff so you do not have teacher bills. we have to pay the bills that have been incurred. if you want to say cut spending for what we do next, fine. you do not tie it the debt ceiling. >> should spending be tied to an increase on the debt limit? a tweet -- tom, arlington, texas, independent. caller: it is not so much what the government buys. it is how much the government pays for what they buys. . one common machine gun is $37 apiece. another is $47 apiece. i've thousand dollars apiece for assault rifles. maintenance cost of airplanes. who will pay that much money? host: how would you change things? caller: gets new vendors. more companies can manufacture stuff. nobody can build submarines for us other than general dynamics. they are building seven new destroyers at $7 billion apiece. host: what do you think about tying it to the limit in the debt limit increase? should we not increase the debt limit unless spending is curved? caller: yes, that would be prudent. >> cyndee wrig
Jan 11, 2013 3:00am PST
to get rid of reoccurring debt ceiling votes. and on the issue of obama's white guy problem cybercity says yes bill. pote us has a gender and diversity problem. women are better negotiators. rhonda says always good to get up in san francisco to see the sexy ass michael tomasky on the tube. bill, have him on more often. >> bill: oh, my god. >> hey, ladies. >> why are we so surprised here? >> bill, you get this sometimes. >> bill: i was expecting her to say always nice to get up early in san francisco to see the sexy ass bill press. >> sexy ass michael tomasky. >> bill: she meant to say both. >> i'm not so sure. >> bill: now you know why we have you in. while we have your fan club here, can we say hello to beverly in chicago. >> caller: how you doing? >> bill: okay. >> caller: this is straight to mr. press. i was listening to joe scarborough yesterday morning for the first 30 minutes. >> bill: big mistake. >> caller: rambling on about the president having all white boys in his cabinet and no women. now i understand why he is saying it because all he's trying to do is get some -- [ bleep
Jan 7, 2013 6:00am PST
. the debt ceiling has to do with paying off the bills that we've already incurred. we want to talk about future spending cuts and future deficit reduction. that's entirely separate conversation. in fact, democratic house leader nancy pelosi says the president should side step the fake fight altogether and vote the 14th amendment. we're back after the break. and invoke the 14th amendment. we're back after the break. now. (vo) she gets the comedians laughing and the thinkers thinking. >>ok, so there's wiggle room in the ten commandments, that's what you're saying. you would rather deal with ahmadinejad than me. >>absolutely. >> and so would mitt romney. (vo) she's joy behar. >>and the best part is that current will let me say anything. what the hell were they thinking? rogaine? well, i'll admit it. i was skeptical at first. but after awhile even my girlfriend noticed a difference. [ male announcer ] rogaine is proven to help stop hair loss. and for 85% of guys, it regrew hair. save up to 42% now at >> announcer: ladies and gentlemen, it's a "the stephanie m
Jan 5, 2013 6:00pm PST
on his next challenge with congress. the debt ceiling. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they have already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. >> republicans say a deal must include spending cuts, but the party isn't unified on that strategy. yesterday, former presidential candidate newt gingrich called a potential showdown over the debt ceiling a, quote, dead loser for the gop. >>> a new kind of air ship built in southern california is almost ready to fly for the u.s. military. construction of the aero craft at a tuscan facility is complete. the company's worldwide aeros just released this video of the giant blimp-like craft in meetings. it combines airplane and air ship technologies and the military hopes to use it to deliver cargo around the world. >>> for most people, disposing of an old christmas tree means
Jan 13, 2013 10:00am PST
get the u.s. government past the immediate stumbling block of the failure to raise the debt ceiling. that's a legal matter. as a political matter, i think it's basically a nonstarter because it seems comical and it seems ridiculous. >> bruce, you suggest an alternate strategy which is one bill clinton has talked about and colombia law professors do. which is the president should essentially say, i have the implicit authority to raise the debt ceiling without congress, correct? >> that's right. of course, i'm not a legal scholar, but i do oppose the existence of the debt limit. i even testified before the senate finance committee that we should get rid of it. i think it's a dreadful left over from ancient history that simply creates opportunities for hostage taking by congress, such as the one we're facing right now and our foreign policy, we don't negotiate with hostage takers for a very good reason and i think that we need to get rid of this debt limit. but i'm perfectly willing to go along with the trillion dollar coin, if that's what's necessary to prevent this hostage from being
FOX Business
Jan 7, 2013 8:00pm EST
would risk a debt ceiling? what do you do with that moment. >> i would not borrow any more money, we would stop paying our bills, a president who believes that the constitution means what is says would not get us into a situation where we run out of cash on the first day of february. that president will have enough money to pay the bills to the federal government, federal government collects about $2 .7 trillion in revenue. .7 trillion in revenue. >> you can rob peter to pay [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of childr in need. find out how it can help frontline health workers bring hope to millions of children at neil: to hear nancy pelosi and scores of other democrats tell it over the weekend, they are just getting started with tax hikes this year, and president agrees, keep it planned
FOX Business
Jan 7, 2013 11:00pm EST
money, and government would live within its means. neil: you would risk a debt ceiling? what do you do with that moment. >> i would not borrow any more money, we would stop paying our bills, a president who believes that the constitution means what is says would not get us into a situation where we run out of cash on the first day of february. that president will have enough money to pay the bills to the federal government, federal governme collects about $2 .7 trillion in revenue. .7 trillion in revenue. >> you can rob peter to pay [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making i
Jan 5, 2013 11:30pm PST
, the debt ceiling. >> one hing i will commote compromise is lightning congress should pay the tab for a bill they already wracks up. if congress refuses to gift united states the ability to pay its bills the consequences could be catastrophic. republicans say a deal must include spending cuts, but the g.o.p. is not unified in its own strategy. yesterday former president candw commented. >>> google said the decision to block map was to ensue a good user experience and not about exceptionally interfering with a rival product. according tot tech site google is working on a redirect so window users can use the map service. >> some homeowners on storm- ravaged staten island, new york are furious that going is touring neighborhoods, photographing damaged homes for it's 360-degree map technology. google says it's updating the photos to "help people around the world better understand the extent of the damage. google says it plans to revisit affected areas and take more pictures to show the recovery progress over time. >>> inside sources say the national hockey league lockout could end wi
Jan 11, 2013 3:00pm PST
are not debts to which the debt ceiling applies. and the idea is to recognize if we don't have enough money to pay those day-to-day obligations that the federal government should issue ious to people. it would say we're very sorry, yes, we owe you money, can't pay you now, when we can, we will. and then the fun part of the idea is that instead of the treasury trying to raise money through a back door mechanism like the platinum coin people would take these ious and tell them at a small discount, and that gets cash to most people's hands and at the same time it is less of a constitutional front to the congress. >> jennifer: so the notion would be that the -- so everybody who is a contractor with the government who is owed some money would be given some kind of paper. they could take that paper to the bank, and the bank would somehow buy it on the assumption that the bank believes that this will be resolved at some point because of the history of the united states. so the question is ed this sort of hand -- this did happen in california. when people compare california i
FOX News
Jan 7, 2013 4:00pm PST
: the president says he will not negotiate with republicans at all about raising the nation's debt ceiling. the feds predict we will not be able to pay our bills about two months from now. but some republicans say they are willing to let the government partially shut down if new spending cuts are not part of the deal. all of this just a week after the fiscal cliff fiasco. shannon bream in washington tonight. here we go again. what are we getting in the way of an inside look at the fiscal cliff talks? >> well, shep, in a wide ranging interview with the "wall street journal" house speaker john boehner talked about what really happened a couple weeks ago. quote one week several weeks ago the president said to me we don't have a spending problem. he said he was stunned and continued to press the point and said the president then told him quote i'm getting tired of hearing you say that boehner also says he will no longer do closed door one-on-one talks with mr. obama calling them futile. response to the boehner claims and so far shep we have not gotten one. >> we got tax increases on some ameri
Jan 6, 2013 6:00am PST
that lower the avalanche of spending. >> raising the debt ceiling and raising objections over former republican senator chuck hagel. the president's expected choice for defense secretary. our conversation with senators dick durbin and lindsey graham. then, learning the ropes with two freshmen, democratic senator democrat heidi heitkamp and republican senator richard hudson and plus can either party compromise and keep hard core supporters on board, neera tannen, stephen moore of the "wall street journal" and jackie calmes of the "new york times" and our own dana bash. you knows what happens when sis fuss rolls that boulder to the top of the hill, it rolls back down, a piece of greek mythology that brings to us the reality of the u.s. congress. it got a deal that raises taxes on the upper brackets and prevents for now huge spending cuts. it's moved on to the issue of avoiding a u.s. default. >> the president needs to show up early this time. >> republicans say they are done raising taxes. they want the president to agree to spending cuts in exchange for raising the amount of money the
Jan 10, 2013 12:00pm PST
of congress. this is a way around the debt ceiling if everything reaches a dead end there. is there an indication -- some people are saying carney in the briefing did not, you know, rule this out all the way. is there any indication this is on the white house's radar? >> doesn't seem to be. i mean, the white house isn't even open to the 14th amendment saying the president could raise the debt ceiling and indicates the president could raise the debt ceiling without the consent of congress. doesn't seem like they'd be open to something like this but covering it for three years, i really i guess i wouldn't be surprised if anything happened but this is not gaining real traction on capitol hill. and it's tough to say what kind of -- what this kind of -- what people are calling a gimmick means for the negotiations. republicans across the board blasted this idea and doesn't seem realistic especially as you said there's issues and not only debt ceiling, sequester and government funtding so if the president wants a deal on any of those, making a new coin to raise the debt ceiling p
Jan 6, 2013 11:00pm PST
, to the table when we have these other big issues like the debt ceiling to get him to talk about it. i wish he'd lead." >> reporter: i'm elizabeth corridan, reporting. >> president obama has signed a financial aid package for victims of superstorm sandy into law. the bill delegates more than 9-billion dollars to help the government pay flood insurance claims. a congressional vote on a larger. 50-billion dollar aid package is set for later this month. however. that bill is likely to face some tough scrutiny. as lawmakers look ahead to more battles over spending and debt. >> the president is also expected to nominate chuck hagel as the countries newest defense secretary tomorrow. the former republican senator from nebraska. and decorated vietnam war veteran. would to replace strong relationship during their time together in the senate. both men will likely face a lot of questions from congress. on where hagel stands on many key issues. >> when parking around san franciscoyou will now need to feed the meter seven days a week. today marks the first day of sunday parking enforcement in the city. kr
Jan 13, 2013 8:00am PST
will not negotiate on raising the debt ceiling. here's what he said. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. let repeat. we can't not pay bills that we've already incurred. >> and here's the response he got the next day from republican senator pat toomey of pennsylvania. >> our opportunity here is on the debt ceiling. the president's made it very clear; he doesn't even want to have a discussion about it, because he knows this is where we have leverage. we republicans need to be willing to tolerate a temporary partial government shutdown, which is what that could mean, and insist that we get off the road to greece, because that's the road we're on right now. we only can solve this problem by getting spending under control and restructuring the entitlement programs. there is no tax solution to this. it's a spending solution. and if this president doesn't want to go there, we're going to have to force it and we're going to have to force it over the debt ceiling. >>
Jan 8, 2013 2:00am PST
the bipartisan policy center saying the treasury department's going to run out of room on the debt ceiling earlier than we thought. february 15th, they say. that's the "x" date when we can't pay all of our bills, when we literally only have that date $9 billion coming in, and we have $52 billion in bills. imagine that in your own household. if you had $9 billion coming in and $52 million going out. when you look at it, it's staggering. i think we have a chart on the left. that's how much daily catch flow analysis, that means how much on the left, $9 billion is coming in. look at all the bills on the right we have to play, interest on the debt, $30 billion, we only are bringing in $9 billion a day on february 15th, but we have $30 billion in debt payments. how about irs refunds because it is, of course, tax season. federal salaries and benefits, $3.5 million, military active pay, medicare/medicaid, defense, food/hud/welfare/unemployment, other spending. that's how unbalanced it is. that's why they say we can't live like this anymore. the fight about how to get that in line is going to be ug
Jan 7, 2013 4:00am PST
, because right now i think the debt ceiling debate we are going to be having coming up in february is going to be even more rancorous than the one that we just that. republicans think they gave away taxation- > they are digging in their heels. > > and now they are going to get spending cuts, whereas the democrats are saying, "if you are going to get more spending cuts, you've got to give me more tax increases." so i think the end of february could be very interesting and very ugly for the markets. > the fiscal cliff of all mothers of fiscal cliff, or however you want to put it, it could be a lot worse. brent schutte from bmo harris. thanks so much. > > thank you. still ahead, the new year's top vacation destinations and deals. dominican republic, anyone? (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in hist
FOX Business
Jan 10, 2013 8:00pm EST
? wonder you you never wanted to grant president bush? >> well, i have always voted to raise the debt ceiling. in congress, those of us in the congress, granted him his wish. we never tried to deny him the ability to pay our bills. i want to do it now because this congress, at least this house of representatives would like to see is the default on our obligations. that is why i think the president ought to do it himself. if congress refuses to do so. neil: i don't know about you, you are in this camp, many of your colleagues when president bush was around, they were on the brink a number of times arguing about what he was doing. bringing us ultimately to default. isn't the issue what brings us to this point time and again? fifty some odd time since world war ii? if the underlying spending. it seems like you guys are going through hoops to avoid the underlying problem. and that problem is spending. >> spending may be a problem. but what do we spend the money on? we spend this money to fund two wars that we never paid for. we have never knock on the war and made sacrifices tax wise or o
Jan 8, 2013 4:00am EST
timothy geithner can use to extend the debt ceiling by the way the u.s. government can extend it in the past is simply not pay its bills. so any sort of cash reserves you'll have to replenish later. whether february 15th is the absolute deadline and whether the treasury department can squeeze it further i think it can probably get to the end of the month of february. >> what's the real significance of this event for the global economy? >> well, the worst scenario, of course, would be that everything koms comes grind to go a halt, the u.s. government acan't pay its bills because congress cannot agree on a deal and all this process takes place as it was in the battle between clinton and the republican congress way back. we're not going to get that scenario. for one big reason, we have a sequestration policy in place. and, therefore, the debt ceiling can probably, on that basis if nothing is congress, congress will agree to raise debt ceiling on the sequestration. but that is a messy solution. what we need is an agreement between congress and the president over the long-term, bot
Jan 13, 2013 10:30am PST
to take a listen to the president's spokesperson this week on the debt ceiling and get your reaction to that. >> sure. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. >> what do you think? >> well, it's an interesting question. how does he not negotiate with congress if congress won't raise it, if the president doesn't do something like cut spending? so it's kind of an awkward sort of situation. and i think the troubling aspect for the markets is you basically have two objects here, republicans who say we won't raise the debt ceiling if you don't cut spending and a president who says, first of all, i'm not going to cut spending unless you also raise taxes and, by the way, i'm not going to negotiate on the debt ceiling. if past is pro log, i don't think the market or the private sector is going to pay attention to this until the last minute, which means sometimes in the first few weeks of february. >> do you think we will see spending cuts, and by the way, do you think we'll see even higher t
Jan 7, 2013 8:00am PST
the message of the fact that the government is going to be shut down, the debt ceiling issue is going to be a problem, we're not going to pay our bills and we're going to potentially have more damage to our credit rating? no. that's not my point. absurd that any republican or anybody united states absolutely right. off of the a, how we create the millions of jobs that this country desperately needs. by the way, thomas, when you create jobs and create taxpayers and people are contributing revenue, then your deficit is going to go down. deal is fair. the backs of people who hurting. doesn't pay a nickel in federal income taxes. that's wrong. >> independent senator bernie sanders from vermont. sir, as always, great to have you on. thank you for your time. >> thank you. >>> apology not accepted. the log cabin republicans taking out this full page ad "new york times" in the last month. also an ad in the "washington post." opposing a potential chuck hagel nomination as defense secretary. why they still say he's wrong on gay rights. >>> happening right now, a preliminary hearing for james ho
Jan 6, 2013 8:00pm PST
, fine. but don't tie it to the debt ceiling." >> "a big part of balancing this budget is in fact getting people back to work. that balances us twice, so that's another big piece of it." >> reporter: president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> "what's really disappointing to me is that the president isn't generating the discussion on his own, that he has to sort of be dragged kicking and scream, to the table when we have these other big issues like the debt ceiling to get him to talk about it. i wish he'd lead." >> reporter: i'm elizabeth corridan, reporting. >> we started with showers but now, clear. as we go for it the night tonight it transition's over to clear conditions. transitioning again to cloudy conditions tonight. we have a weather system that is moving into the bay area. the rainfall will stay well to the north. clouds in the morning and sunshine for the afternoon we have some pretty nice systems. sunshine and warmer temperatures with low mid- 60s. here is th
Jan 5, 2013 10:00pm PST
cliff drama ends today. the president used his weekly address to tell the nation that raising the debt ceiling to avoid a government default is a problem for congress. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. >> reporter: top advisers say the president will never again like he did in 2011 get pulled into that debate. but republicans want a fight tying the debt ceiling to spending cuts required by the fiscal cliff. >> we're crushing today's small businesses and the next generation of americans under a mountain of debt. >> reporter: they see an opening at the end of february when the debt limit now $16.4 trillion comes up as to mandatory spending cuts in the tens of billions. >> it's time to face up to the fact that our nation is in grave fiscal danger. grave fiscal danger and it has everything to do with spending. >> reporter: with income taxes raised re
Jan 8, 2013 11:00am PST
the bills. but republicans seem to think the debt ceiling is a good tool to limit how much the government spends. the current ceiling was officially hit on december 31st, but like last time, the u.s. treasury is using extraordinary measures to get through until about mid or late february. if congress doesn't act by then, government may not be able to pay some of its bills, as simple as that. rush, i hope you're taking notes. that's it for me. i'm out. same time tomorrow. you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immedia
Jan 12, 2013 7:00am PST
. >>> some bloggers are online and they believe they have the answer to the nation's debt ceiling crisis that the treasury should simply mean a $1 trillion platinum coin. keep it in reserve, then use the money to pay bills. others say it is not realistic as far as being approached to the solution. you may have seen her and her sister marianne around becoming local staples after moving to the bay area from michigan more than four decades ago. they are unmistakable. that's after they fell ill in july. vivian brown would have turned 86 later this month. >>> and brushing your pet's teeth may seem like a difficult task. up next why it is important, much more important than what you think. >>> a surprise for the fast food drivers. no driver to be found. we'll be right back. >>> we've got a forecast that will bring a chill to your heart and to have everything else quite frankly with a freeze warning that will be posted to the bay area. it will be cold this morning and cold tonight. but the daytime, before you get a beautiful saturday. we'll have the forecast
FOX Business
Jan 9, 2013 11:00am EST
is jack lew has that the president cited decided a major budget fis with republicans on the debt ceiling and recently somewhat perverted fiscal cliff, also budget director under president bill clinton and obama known as someone with a very deep knowledge of budgeting. before joining the obama administration, he was a chief f operating officer at the citigroup alternative investments unit reported lost money to do that, although it earned profits from betting against the subprime mortgage market and will be if the fed to confirm him in one predicts very contentious process. >> it is a bumpy confirmation process. many people have no secure treasury will tell them the truth both of financial conditions of this country and lay out a plan that can be analyzed and studied it will hold up under scrutiny. they haven't done that from the white house yet. he has had a failure to lead. speaking of the republican complaint, difficult to work with during 2011 debt ceiling debate, probably a plus for the president. i do. cheryl: probably why he did that. thank you. dennis: a billion smart phones can b
Jan 8, 2013 3:00am PST
underway in washington already to get ready for the debt ceiling battle. now we're told the treasury may not be able to pay its bills after february 15 which moves the clock up two weeks ahead of what we thought it was last week. lots to talk about. lots to get into. let's get right to it with team press. peter ogborn and dan henning. >> happy tuesday. >> good to see you bill. >> bill: thank you. not good to hear me. good to see me. i notice the difference there. not very subtle there. >> good to have you here. >> good to have you. >> bill: i wish i could do more. i'm drinking my tea. my hot tea my cold tea. >> you're doing everything right. someone e-mailed saying you should be drinking rum. >> i've heard of whiskey. never heard of rum. >> someone e-mailed last night saying give him some rum. >> bill: make a hot toddy. >> go get him a hot toddy. >> luckily phil carries a flask with him everywhere he goes. >> bill: i thought that was cyprian. cyprian bowlding as always got the video cams. phil back backert has the bones. >> we missed you of course. >> bill: as a christian as a catholic p
FOX Business
Jan 8, 2013 1:00pm EST
this to lead the u.s. default on its bills because you have a debt ceiling raised but without a corresponding spending cuts? would you not agree with to that and let the country default? >> we don't need to let the country default. we are -- actually we are already bankrupt today. we have to deal with it today. that is what the american people expect. let me give you a couple examples what is going on and what democrats have done. when this recession started, in all of the u.s. department of transportation there was one federal bureaucrat who made above $170,000 a year. just 18 months later, there were 1,690. this is unsustainable. every salary in the department of education is $102,000 a year, about twice what teachers make. ashley: we are almost out of time. i just want you to respond to some of the comments made by representative brown. >> first of all, we have already cut $1 trillion in spending and did that in 2011. we did $600 billion of deficit reduction, we spent two campaign is being blasted by republicans for finding $700 billion savings in medicare. we made significant for the appr
Jan 10, 2013 4:00pm EST
obama -- when senator obama in 2006 bewailed the debt, he voted against the debt ceiling going up in 2006. >> and now he wants unlimited. >> he says -- we rely on foerns to pay our bills. foreigners in the shape of central banks and -- and ex-checkiers own $1.5 trillion of our treasuries and mortgages, $1.5 trillion at 2006. today it's almost twice as much. so it -- it is utterly out of control, but for reasons that all too few people understand. it's not about the $1 trillion coin, though it is an interesting illusion to what is going on with the problem. the problem is the nature of our money. >> and we're not explaining this. we're not speaking english about this. let me get your take on when the markets might start figuring this out and react to it. >> we know rates will be for a long time. bernanke has told us, mario draghi, interest rates will be at rock bottom levels since 2015. >> money market rates will be there if they are true to what they are laying out but we don't know where bond yields will be here. >> a chart here of 30-year treasury yields on the federal debt ceil
Jan 11, 2013 7:00am EST
. the debt ceiling, i have always thought the country is not going to not pay its bills. we will not not pay interest on money we have borrowed. is there a point of leverage? that is subject to debate. i think the sequestration and continuing resolution -- the other thing we have is the budget resolution for 2014. you might as well look at them together. there are colliding any way. i would hope that we could get some success of in negotiations to vote now for changes and 30 or 40 years will make a difference. host: john engler joining us until 8:30. talking to us about ceos and taking a look at their thoughts on the budget and federal spending. if you want to join in the conversation, the members will be on your screen. -- the numbers will be on your screen. you can send us off of twitter a question or a comment. send us an e-mail, too. the president nominating jack lew to become the treasury secretary. partly and chiefly because of his budget experience. what are your thoughts about the pick and what he brings to the table? guest: i certainly hope it will be positive. i think he will be on
FOX News
Jan 12, 2013 1:00pm PST
the debt ceiling, people are very cautious, they should be. i think this may be a bill d.c. wants to make the person that is on the fencing out and go through the process of buying a home. all i'm suggesting make sure you are prepared and you have the funds in place to do that. >> jamie: understood. thanks so much kyle. >> gregg: chuck hagel is under fire from so many sides as he gets ready for a tough confirmation battle. how much of the criticism is fair? how much is missed? we'll take a closer look with a aaron david miller. >> jamie: we are waiting to hear is lance armstrong prepared to admit to doping. what they are saying about the interviewer with oprah winfrey. >> i try not to let it bother me and keep rolling right on. i know what i know and i know what i did. that is not going to change. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male an
Jan 10, 2013 1:00pm EST
, as opposed to having a defense appropriations bill adopted. and a debt ceiling crisis that could create even further turmoil that could impact our budget and our economy. the fact is, of looking at all three of those, we have no idea what the hell is going to happen. all told, this uncertainty, if left unresolved by the congress, will seriously harm our military readiness. let me explain why. first, the cr expires on march 27. if congress fails to pass the appropriations bill for fiscal year 2013, our overall operating accounts would decrease by about 5% below the proposed budget presented by the president for our 2013 budget. that amount comes to about $11 billion. an important part of our strategy is try to increase the operating accounts in order to maintain readiness. the cr would prevent us from doing that. if congress fails to detrigger sequestration and we have this half trillion dollar cut on march 1, we would have to cut another 9%, almost $18 billion. to protect funding for the war in afghanistan from these cuts, we have an obligation, obviously to protect the fighter and what we'r
Jan 6, 2013 10:00am PST
: congressman you advocated going past the debt ceiling deadline. would you advocate. >> i advocate a solution and not a deal it is no wonder that the president doesn't want to debate if i had presided over the four highest annual deficits and increase in the national debt i wouldn't want to talk about the issue either. since the debt ceiling passed 16 months ago. the day after it passed we got a downgrade from s&p . the super committee that chris voted for fell apart like we thought it would . the only scheduled cuts to take place. we suspended them in the fiscal cliff deal. we have yet to cut one dime and now it is time to do it again. stow this is, we have to stop the madness. this is the 18 year old kid on a credit card and instead of cut tupping and putting them on a budget, barak obama said give us another one and harry reid you have to - on >> john: would you support the debt ceiling. >> i don't support not dealing with the program. this whole, the way this town works and the fiscal cliff deal, the only winners were washington, they got more money and the folk necessary ohio lost rev sn
FOX News
Jan 12, 2013 3:00pm PST
congress take the steps necessary to raise the debt ceiling. >> arthel: we're going to get to the interest of the president later. , but this is the interest of the people. the bill is up come february. we need more money to pay for the bill. so richard, let me ask you if you think this is good or bad for the good of the country, and would it matter if the shoe were on the other foot? >> well, there is good news. today we've actual will he had two ideas taken off the table. we've already heard the treasury department and the federal reserve earlier this afternoon say this notion about this platinum coin, which was a little batty is now not being considered. and let's agree just among the three of us that this whole idea of using the 14th amendment, which remember action bill clinton said he would have considered doing back in to 2011, that's something that the president has said he's not going to do. so i understand why these senators have urged him to do it because they would rather not go through the fight. i get that. >> arthel: the president also said that he is not going to have any s
Jan 6, 2013 7:00am PST
getting back to work will be to get congress to lift the federal debt ceiling. he said he will not compromise on this issue. >> the congress refuses to give the united states the ability to pay its bills on time. the consequences to the global economy could be catastrophic. the last time congress threatened this course of action our entire economy suffered for it. our families and businesses cannot afford that dangerous game again. >> president obama also says he's looking forward to working with new congress to continue to boost the economy and shrink federal deficits. >>> president obama's 2008 election campaign was fined by the federal elections commission and it's one of the largest fines ever levied. the s.e.c. fined the campaign $375,000 for failing to report the identities of donors who contributed $2 million in the final weeks before the election. the fines followed an s.e.c. audit after complaints by the republican national committee and other groups. >>> we've got lots more ahead for you on "today in the bay." coming up, it's one of the island's newest treasures.
Jan 8, 2013 6:00am PST
next white house chief of staff tim geithner to raise the debt ceiling and the president also needs to finds a new chief of staff. >>> they approved extra severance pay for dozens of lesbians discharged under the don't ask don't tell bill. the 2. $4 million settlement covers veterans which received only half of their pay. don't tell don't ask was reformed last fall. they will take up two same sex marriage cases and it will come under proposition 8 which is to be heard and keeps them from recognizing those marriages for any purposes including healthcare and taxes. >>> the driver accused of killing two people in the mission district is due back in court this morning. 19-year-old david morales faces two counts of murder and several other felony charges in connection with the deadly crash on new year's day. investigators say morales was racing away from police following a shooting when he killed two innocent people. >>> a search for a missing man in skott's valley. he has not been heard from since he left his home friday morning. search teams are going to be looking near the empire grad
Jan 9, 2013 7:00am EST
not paying your credit card bill. it is a bill that congress voted for to raise the debt ceiling. host: we will get a response. chris chocola. the club for growth -- guest: we do not support many of the tax loopholes that the corporations enjoy. we think the government should not write into the tax code winners and losers. we wanted to get rid of the ethanol credit. as far as corporate tax rates, there is an argument that corporates do not pay taxes, consumers do. they pay the embedded cost of the tax. we compete in a global economy. you have to compete with other countries and the total cost of doing business in those countries. it is not an ideological thing. it is a competitiveness and math thing. how do u.s. corporations compete in the global market? there is more wealth created in america, and that is a good thing. pat toomey was president of the globe for -- of the club for growth. pat toomey is a great american. we're very proud of his service in the u.s. senate. we think he will provide some leadership as we go into these tough debates and the sequester, which has been kicked down
Jan 6, 2013 6:00am PST
to do battle over raising the debt ceiling, we are about to get the inside story on how the fiscal cliff negotiations went down. this morning on abc's "this week" senate minority leader mitch mcconnell is the guest. he's the republican leader who helped craft the compromise. but did they kick the can down the road? is that all they did. and what do republicans plan to do about raising the debt ceiling. don't miss "this week" with george stephanopoulos coming up at 8:00 right here on abc7. >>> fans of a popular peninsula ice rink are rallying against a plan to close it. the ice center of san mateo is slated to close on june 1st. the landlord wants to transform the location at the bridge point shopping center into more retail space. but long-time fans of the rink are petitioning the landlord for a change of heart. >>> i mean, it's where most of our skaters, they come here almost every day. their parents drop them off. they feel safe here and for most of our skaters they are sad. they aren't sure what they are going to do, what their coaches are going to do, where they will end up. >> that
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